PLUS Loans (Parent Loans)

PLUS loans are federal loans that parents of dependent undergraduate students can use to help pay education expenses. Parents are able to apply for a PLUS Loan if their dependent undergraduate student is enrolled at least half time in an eligible program at an eligible school. BPCC participates in the Direct Loan Program which offers PLUS loans.

How do my parents get a loan?

To apply for a Direct PLUS Loan, your parent must complete a PLUS Loan application for undergraduate students. The Department of Education will notify the school electronically, if your parent is approved or denied the PLUS loan. If your parent is approved, the school will add PLUS loan eligibility to the studentís account.

If your parent has an adverse credit history, he/she may still receive a Direct PLUS Loan by obtaining an endorser who does not have an adverse credit history or documenting to the U.S. Department of Educationís satisfaction extenuating circumstances relating to your adverse credit history. If you are a parent borrower, the endorser cannot be the child on whose behalf you are borrowing.

You and your parents must also meet other general eligibility requirements for federal student financial aid.

How much can my parents borrow?

The yearly limit on a PLUS Loan is equal to your cost of attendance minus any other financial aid you receive. If your cost of attendance is $6,000, for example, and you receive $4,000 in other financial aid, your parents can borrow up to $2,000.

How will I receive my loan?

The school will first apply Direct PLUS Loan funds to the school account to pay for tuition, fees, room and board, and other school charges. If any loan funds remain, your school will give them to you to help pay other education expenses. Get more information about receiving aid.

In most cases, the loan will be disbursed in at least two installments, and no installment will be greater than half the loan amount. The school will first apply Direct PLUS Loan funds to the school account to pay for tuition, fees, room and board, and other school charges. If any loan funds remain, your parents will receive the amount via check, unless they authorize the amount to be released to you or to be put into your school account. Any remaining loan funds must be used for your education expenses.